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Facing shortfall, Boston archdiocese pares clergy pension benefits

May 26, 2009

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The Boston archdiocese has sharply cut back on benefits to retired clergy, in order to face the collapse of its underfunded clergy-retirement account. The new archdiocesan policies will also trim benefits to priests who take leaves for health reasons.

The pension fund for the Boston clergy is underfunded by $114 million, according to an archdiocesan report, and annual benefit payments outstrip contributions to the fund by $10 million. In reducing benefits, the archdiocese explained that previous policies would have exhausted the pension fund by 2011.


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